Meanwhile, PayPal acquires mobile payments firm Paydient.
E-commerce drove growth last year at Dreams Inc., which operates FansEdge.com and other sites. Web sales grew by 19.6%, while total sales increased by 10.8%.
E-commerce was the big sales growth driver for Dreams Inc. last year.
In 2008, e-commerce sales for Dreams, No. 216 in the Internet Retailer Top 500 Guide, grew by 19.6% to $46.9 million from $39.2 million in 2007. Total revenue grew year over year by 10.8% to $82.2 million from $74.2 million while retail store sales grew by 2.5% to $16.4 million from $16 million. The remaining revenue for Dreams, which also manufactures sports memorabilia products, custom acrylic display cases and framing, and provides related services, decreased by 0.5% to $18.9 million in 2008 from $19.0 million in 2007.
Overall the web accounted for 57% of all sales vs. 53% in 2007. “We have had success with the marketing of our products online via FansEdge.com and the complement of each of our web properties,” Dreams says in its recently filed annual report with the Securities and Exchange Commission.
In the fourth quarter web sales for Dreams, a niche retailer of sports memorabilia and related merchandise, increased by 5.3% to $23.9 million from $22.7 million in Q4 of 2007 while total revenue declined year over year by 4.85% to $35.3 million from $37.1 million. Q4 retail stores sales increased by 8.9% to $6.1 million from $5.6 million in Q4 of 2007.
Miscellaneous revenue for Dreams, which owns and operates FansEdge.com and more than a dozen other niche e-commerce sites, declined by 36.1% to $5.3 million in the last quarter of 2008 from $8.3 million in the previous year. In the fourth quarter, e-commerce represented 68% of total sales compared with 61% in the fourth quarter of the prior year.